107 Harris Road, East Tamaki, Auckland - Manukau

Located at 107 Harris Road, East Tamaki, Auckland - Manukau, this commercial property spans an impressive 8,093sqm freehold site on a key arterial route in East Tamaki. The property comprises 3,074sqm of floor area, featuring trade retail and industrial spaces with concrete walls and an iron roof, both in good condition. Built in 1975, it offers 83 car parks and is described as a 'Commercial - Multiple/unknown' category with a land area of 8,093sqm. The property is currently returning approximately $712,834pa net + GST from nine separate tenancies, seven of which are occupied, providing a split-risk investment with superb development upside.

From a valuation perspective, the capital value of the property has seen a significant increase, from $9,750,000 on July 1, 2017, to $13,050,000 on June 1, 2021, marking a 33.85% growth. The HouGarden AVM estimates its value at $12,832,500. The latest sales data shows transactions at $10,900,000 on December 14, 2023, and $10,935,000 on May 22, 2018, highlighting its solid market demand.

The property is zoned within excellent school zones, including Star of the Sea School (Howick) with a decile rating of 9, Sancta Maria College with a decile of 7, Edgewater College with a decile of 2, and Howick Intermediate with a decile of 4. These educational institutions range from contributing to secondary levels, offering quality education options for families in the area.